The Ledger

Bank of Iraq (formerly Iraqi Socialist Bank)

This page sets out what the record shows about Bank of Iraq (formerly Iraqi Socialist Bank). It names the owners and managers, gives the dollars the bank bought from the Central Bank in the years whose records survive, lists the requests that the Central Bank refused and describes the action that regulators took against the bank.

مصرف العراق

$43.2m

bought from the Central Bank from 2012 to 2020, in the records that survive. This is a minimum.

Tier A

$1.5m

the value of the gap between the official and the market price on the dollars it bought, which went to whoever received the dollars

Tier B

Name, licence and status

Name in English: Bank of Iraq (formerly Iraqi Socialist Bank)
Name in Arabic: مصرف العراق
Type: State-owned bank
Regulatory measures: No sanction, ban or fine recorded as of the date of writing

Ownership

The Iraq Securities Commission page names no shareholder with about 10 per cent or more. The shareholder tables of the annual reports are not yet in the record.

Owners and managers

Being listed here records an ownership stake or a post at the bank. It is not an allegation. Next to each name is the exact legal status. Where the encyclopedia holds a record of the name, the status comes from that record. Otherwise it reads “Not charged as of the date of writing”.

Owners and managers
Name	Role	Share	As of	Legal status	Source
Not stated	Owners not yet identified	Not stated	Not stated	Not stated	Not stated

Dollars bought from the Central Bank

Dollars bought from the Central Bank, by year

In millions of dollars. Verified rows of the Central Bank's daily records.

Source: Central Bank of Iraq, daily records of the dollar sale, compiled from the verified rowsTier A

Dollars bought from the Central Bank
Year	Dollars bought	Cash	Transfers abroad	Share of the year's named sales	Refused	Value of the price gap
2015	$18m	$3.5m	$14.5m	0.1%	$0	$554,837
2016	$20.1m	$5.6m	$14.5m	0.1%	Not stated	$720,336
2017	$5.1m	$270,000	$4.9m	0.0%	Not stated	$246,188
Total	$43.2m	$9.4m	$33.9m		$0	$1.5m

Source: Central Bank of Iraq, daily records of the dollar sale, compiled from the verified rowsTier A

Source: the price gap is our calculation from the Central Bank's price and the market priceTier B

Share of the year's named sales: the bank's part of all the dollars that the surviving records attribute to a named bank in that year.

Refused: the requests that the Central Bank's committee turned down. Its minutes survive only from January 2013 to February 2015. An empty cell means that no minutes survive for that year. The yearly figures come from the yearly ledger. The figure at the top of the page comes from the committee's minutes. The two can differ.

What the Central Bank refused

The committee's surviving minutes, from January 2013 to February 2015, record no refusal for this bank.

Enforcement actions

No enforcement action against this bank is recorded here.